To my precious Parker: I’m so proud of you
Taking a moment to let my daughter know that I see her.
My nerves were bad before sitting down with Parker to record Episode 2 of the “Money Talks” podcast.
I had high hopes for our discussion on Monopoly. If we were going to record and share our money talk about one of our favorite board games, I wanted the episode to be perfect.
As we taped, however, I couldn’t tell what to make of the content we were creating. While moderating the conversation with my 9-year-old, worriedly trying to maintain order, I wasn’t sure whether we were doing well or poorly, hitting a home run or striking out. At completion, I didn’t feel great about it. Something felt off. My mind raced, thinking of every topic I might have omitted. Disappointment struck.
But then I began the editing process. During playback, I quickly came to a realization.
I’m incredibly blessed as a father to have Parker for a daughter.
Listening to Parker on Episode 2 put that into perspective for me in a way I never expected. A conversation centered on money lessons morphed into a cherished recording that encapsulates her life as she wraps up third grade and our unique but unbreakable connection.
Parker blew me away — during playback — well before we reached the meat of our conversation about Monopoly.
She informed me that her math class has started geometry, which she says she likes. Parker is excelling in advanced third-grade math, essentially a fourth-grade curriculum. At the start of the school year, I pushed back on her placement in advanced third-grade math. She didn’t perform well in second-grade math, and I shared Parker’s concern about an accelerated learning pace for a subject she did not enjoy. Her success proves she’s capable.
On the podcast, Parker also shared her participation in Black Girls Code, where she recently coded a Hip-Hop song. Just this week, she was signed up for another season of Girl Scouts. She attends math tutoring at church on Saturday mornings, and on Saturday afternoons partakes in “Intonjane,” a church mentorship program for girls. She even gave up desserts for Lent, quite the achievement if you know Parker and her love for sugary sweets.
It’s been amazing to watch Parker’s personality take shape. She is outgoing and engaging, unafraid to try new things, make new friends and explore new adventures. What became clear in Episode 2 is that Parker is being exposed to many different things, and I hope they each help her blossom into a well-rounded young lady and eventual woman.
I also realized how much Parker is learning about money.
“I’ve definitely been getting smarter with money when we started ‘Money Talks,’” Parker said on the podcast. “Because at first, when I started learning about money in second grade, I only knew how to count money and how to pay for stuff. Without credit cards and debit cards because I didn’t know those were a thing until you told me.
“But I was, like, ‘There’s a whole new world to money.’ My brain exploded.”
Pinned to Parker’s bedroom wall, written on two pieces of standard size printing paper, are money reminders. One is a non-negotiable set of instructions for what we must do with our money: “Make money. Keep money. Build money.” The other lists four chief causes of debt: Credit cards. Housing. Vehicles. Student loans.
Those had been the pillars of Parker’s financial education. Now, our Monopoly nights have joined the mix.
Although Parker still just wants to have fun with the game, Monopoly has helped teach her about earning and spending, saving and investing. She has learned about taxes and high-cost real estate versus low-cost real estate, paying rent versus collecting rent, going bankrupt and going to jail.
“It’s sort of like “Money Talks” in a cool way, too,” Parker said. “We’re having fun and learning.”
Parker also is learning about me. And that means the world to me.
“I did learn that you’ve been putting some things about your life that I did not know in the “Money Talks” posts, and it’s really cool,” she said.
The more I listen to Parker the more I learn about her too. I’m eternally grateful for the bond we share, the growth she’s showing and the memories we’re creating.
Daddy and daughter.
I am extremely proud of you, Parker.
The cool thing about this entire project you're on is you'll be able to look back on these writings and podcasts with your daughter as a time capsule to always come back to. Revisiting these conversations down the road will carry so much intrinsic value and meaning, in addition to all the teachings you're passing onto Parker.
Go Parker! Darnell, not sure what you’re doing rn with your portfolio, but I think having some cash on the side might be prudent.
I just recently bought a bond index that gives monthly interest, so it’s kinda like holding cash, as the index doesn’t move much.
I think it might be better than dividend stocks in the short to medium term, as you’re getting a high return due to high interest rates, as well as being able to remain flexible in case generational companies (or even the SP500) do hit more of a dip.
The problem with dividend companies, imo, is that they typically have low earnings & growth prospects, which would keep the stock price at, slightly above, or god forbid, below the price you bought it at.
For someone that’s trying to grow their money, I think a different asset allocation strategy might be prudent.
As always, just my two cents, would love to continue to hear more about your investing journey and wish you the best of luck in achieving your financial goals.